The Central Bank of Nigeria (CBN) has said that banks aiding the sale of mint notes to currency hawkers will be fined N150m and the apex bank may invoke punitive measures in line with the Bank and Other Financial Institutions Act, 2020.
The penalties are contained in a circular issued by the apex bank titled, “Updated Penalty on Inappropriate Cash Disbursement Practices by Deposit Money Banks (DMBs),’ seen by THE WHISTLER.
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